Market Conditions in 63301>Question Details

E Hong, Home Seller in 63301

I have a property at New Town,St Charles. New Urbanism community. It's been tough to sell house there. How do?

Asked by E Hong, 63301 Tue Jul 1, 2008

It's been tough to sell house. Anybody knows about New Town ? What do you think about housing market Y2009 ?

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I have seen a number of owners in New Town who loved their homes, but others who hated them. Some bought before building and then found no storage (mainly townhomes). some felt that the lifestyle was for them, others that having others decide their lifestyle wasn't for them. The primary note is that school district and distance to work (especiallly with gas today) are really important. Secondary importance is infrastructure in the area that supports them, many people prefer driving out of their subdivision and seeing other homes, groceries and stores that are for their convenience, not fields and industry. The rest of the area will gradually build up, but builders right now aren't doing as well, so it will take a bit longer before that happens (the infrastructure will come first as the stores realize that there are people with money to spend), the schools will improve as the people insist, but it will be awhile before they develop the reputation of the nearby school districts and aren't seen as a very "rural" district. People will realize that the townhomes have the same storage as townhomes everywhere. the jobs will gradually move in that direction, just as they did along the 40/64 corridor in West St Charles county. For right now, work with your agent to maximize and highlight your strong points and market to the people who work in your area The market is strong at the moment - the buyers are realizing that interest rates are going up and school is about to start, so they need to get off the fence and make a decision and we are seeing that starting to happen. Meanwhile, have your agent show you your competition and plan a strategy to beat them, but keep in mind that many people search by school district and orchard farms isn't on their hit list of school districts.
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0 votes Thank Flag Link Tue Jul 1, 2008
we are looking in new town, for 2 bdrm. 2bath, cottage home, low cost. no hurry but in 2009.
let me know if you have anything
0 votes Thank Flag Link Tue May 12, 2009
I am looking to move to New Town. What type of house are you trying to sell?I love the area.
0 votes Thank Flag Link Sat Apr 11, 2009
I have had a few people who loved it out there, I've seen others who bought before construction, then after construction (mainly the townhomes) discovered no storage and wanted to move elsewhere, others who wanted to move because of being so far out. The ones who loved it, liked the lifestyle, but the others felt that it was a limited lifestyle based on what someone else thought their lifestyle should be like. For most though, it the distance to travel to get to work and the schools for their children that make the difference, those two factors are key. The lifestyle characteristics will "blend" as time goes on, the lack of storage is the same in any townhome situation, but distance to work (especially with the gas prices the way they are) and quality and reputation of the schools for their children will never change.

The housing market right now is moving - we're seeing a lot of buyers out there, granted some are getting overwhelmed with their choices and not making a choice, but with interest rates on the climb and school getting ready to start in less than 2 months, people are making choices. If you are in an area where there is a lot of choice, they may still not chose you, but then you need to check out your competition and see why they are choosing the other guy - price, how the home is fixed up, location in the development or ??? and then try to better your odds.
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0 votes Thank Flag Link Tue Jul 1, 2008
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